Eric Trump, the second son of President-elect Donald Trump, doesn’t mince his words when it comes to the future of the banking industry. Speaking at the Bitcoin conference in Abu Dhabi, Trump argued that blockchain technology is poised to overtake what he called “antiquated” global banking systems. “If you live in America and want to get a home loan, it takes you 90 days. By then, the house is sold and your dream is over,” he said, highlighting the potential of blockchain for faster and more efficient processes, as reported CNBC.
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Blockchain offers speed and profitability
Trump emphasized that blockchain can perform all the functions of modern banking, but faster and cheaper. He noted: “There is nothing on blockchain that cannot be done better, faster and significantly cheaper. » His comments come as crypto supporters expect a friendlier regulatory environment under the new administration, which has already seen hundreds of pro-crypto candidates elected to Congress.
Trump administration plans pro-crypto policies
Eric Trump emphasized that his father’s administration is poised to put the United States on a path to leadership in crypto regulation. “We will have a clear roadmap, and I hope the rest of the world follows,” he said, considering the United States the “crypto superpower of the world.”
Elon Musk’s role in the White House
Trump also hinted at Elon Musk’s involvement in the new administration, saying Tesla (TSLA) and the X CEO will co-lead the Department of Government Effectiveness (DOGE). “I think Elon is going to play a major role in ensuring that real innovation happens,” he added.
His remarks fit with the growing importance of Bitcoin as a decentralized alternative to outdated financial systems.
At the time of writing, Bitcoin stands at $97,350.09.
